Paying Taxes Can Tax The Best Of Us: Difference between revisions

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Latest revision as of 16:09, 15 October 2024

One more week until Tax Entire day. Have you filed yours yet? I haven't (probably should get on that, actually), and when I read in USA Today that roughly 47% of Americans won't even need to worry about paying federal income taxes, I start to wonder if I will even bother. Oh sure, there's the threat of prison time for tax evasion, but really, what's the point if half the damn country isn't going to fund up and jump off scot-free?

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Julie's total exclusion is $94,079. To be with her American expat tax return she also gets to claim a personal exemption ($3,650) and standard deduction ($5,700). Thus, her taxable income is negative. She owes no U.S. tax.

Tax-Free Wealth is the resource i encourage of which you read. If you immerse yourself in these concepts, financial security and true wealth can belong to you.

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Three Year Rule - The tax debt in question has end up being for a return that was due at minimum three years in prior. You cannot file bankruptcy in 2007 and try to discharge a 2006 due.

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